民生证券MINSHENG SECURITIES宏发股份(600885)/电力设备及新能源公司财务报表数据预测汇总利润表百万元)2022A2023E2024E2025E主要财务指标2022A2023E2024E2025E营业总收入11733139991688020393成长能力(%)营业成本773790841093313193营业收入增长率17.0719.3120.5820.81营业税金及附肋加8898118143EBT增长率19.9821.8622.8624.19销售费用405560658775净利润增长率17.3925.0925.1125.48管理费用1068126015021754盈利能力(%)研发费用6027428951081毛利率34.0635.1135.2335.30EBIT1960238929353644净利润率10.6311.1511.5612.01财务费用31059276总资产收益率ROA7.808.569.279.96资产减值损失-27-16-19-23净资产收益率ROE16.6417.9719.2120.37投资收益30425161偿债能力营业利润18592311287536083.113.153.243.37营业外收支0111速动比率2.062142.232.36利润总额1859231228763609现金比率0.450.570.671.11所得税170231273343资产负债率(%)37.7636.0234.5033.02净利润1689208026033266经营效率归属于母公司净利润1247156019522449应收账款周转天数87.4685.0085.0058.00EBIT DA2694314137624553存货周转天数133.62130.00130.00130.00总资产周转率0.790.820.860.89资产负债表（百万元）2022A2023E2024E2025E每股指标（元）货币资金1358200428225654每股收益1201.501.872.35应收款及票据4270497960045748每股净资产7.198.339.7511.53预付款项195227273330每股经营现金流1532.112.274.20存货2832321938744676每股股利0.360.450.560.71其他流动资产691710726745估值分析流动资产合计9346111391370017153PE27221714长期股权投资1456107168PB4.53.93.3固定资产4319466348955030EV/EBITDA129810.938.916.74无形资产487486486486股息收益率(%)1.101.381.732.17流动资产合计6645708173577437资产合计15991182212105724590短期借款41414141现金流量表（百万元）2022A2023E2024E2025E应付款及票据1905226527263289净利润1689208026033266其他流动负债1064123014651755734752828909流动负债合计3010353542315085营运资金变动-972-645-1069203长期借款591591591591经营活动现金流1595219823684377其他长期负债2438243724432443资本开支-1517-1140-1044-926非流动负债合计3028302730343034投资-502000负债合计6038656372658119投资活动观金流-2003.1140.1044-926股本10431043104310437000少数股东权益245729773628444456800股东权益合计9953116581379216470筹资活动现金流47413-506-619负债和股东权益合计15991182212105724590现金净流量.3436458192832资料来源：公司公告、民生证券研究院预测本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明证券研究报告